How to earn money on YouTube!
YouTube is the second most visited website in the world, behind Facebook. Half of YouTube’s visitors use the site on a daily basis. YouTube also accounts for a staggering 25% of global mobile traffic. Your average YouTube visitor watches, on average, 40 minutes of video per day. I guess there’s no surprise in the fact Millennials are the ones leading the daily consumption with 37% of 18-34 year olds using the platform daily. As a result, tens of thousands of people are making a living from YouTube, some, now household names have even gone on to become multi-millionaires.
With all this media consumption, how can you or your business capitalise on the YouTube media market?
First things first. Start your own channel!
The magic about YouTube is that there are no real rules about what kind of content you can create – it can be about almost anything (as long as you abide by YouTube’s community guidelines). You can make short movies, animations, sing, dance, start a blog, or simply share a video about your products. It’s really about finding your own unique style and niche in an ocean of endless content. Did you know that 5 hours of new content is uploaded to YouTube every minute?
Tips and tricks to get you started:
- Choose your username carefully. It should be something easy and memorable so people remember it and will pass it on to their networks.
- Don’t forget to add google keywords connected to your content in the advanced section of your channel settings to reach your target audience.
- Try not to make your videos too long – so people don’t get bored and click out. Aim for something fun, punchy and captivating.
- Have the right tools for the job. Make sure you have a good camera, lighting, microphone, editing software, etc. Don’t be disheartened if at first your content isn’t amazing. We all have to start somewhere… or if you’ve got the budget, just hire a pro.
- Post videos regularly! Keep a regular pace of content in order to stay relevant.
- Know you audience. Keep a focus on who your target audience is, and who your buyers might be.
- Track your Google Analytics and pay attention to the numbers and graphs about each of your videos. They will help you understand what is working well, and where you might need to improve.
Once your channel is setup and streaming, make sure you turn on your money maker.
- Enable monetization! Go to your channel -> click on video manager -> click on channel again -> choose enable monetization.
- Don’t forget you’ll need a steady audience in order to start making money. Add key words, share your content across all your socials, and interact with your audience to grow.
- You will need at least 4,000 hours of watch time and 1,000 subscribers in order to start earning money.
Link your account to AdSense
To start earning money on YouTube, you’ll have to set up a Google AdSense account. This is the platform you’ll need in order to receive payments from YouTube. You can add multiple YouTube channels into the same AdSense account. Click here to sign up today. Keep in mind, YouTube will only pay out after you’ve earned $100 or more from ads placed on your channel and videos.
Just how much do YouTubers make? Currently they make anywhere between $0.01 to $0.03 per view, which translates to $3-$5 per 1000 views, and up to $5,000 for 1,000,000 views.
Become a YouTube partner
As a YouTube partner you will have access to more creation tools, community support and tips. Plus, you can even win prizes.
Minimum eligibility requirements to join:
- Follow all the YouTube monetization policies.
- Live in a country/region where the YouTube Partner Program is available.
- Have more than 4,000 valid public watch hours in the last 12 months.
- Have more than 1,000 subscribers.
- Have a linked AdSense account.
For more information about the terms and conditions about becoming a YouTube partner, click here.
You can start selling your own branded merchandise once your channel starts to become more prominent. This will require a bit of extra leg work, but it’s an extremely good way to add a whole new revenue stream, while getting your name/product out into the real-world. There are multiple third-party websites that can help you set-up an online store for your followers and subscribers.
While we are on the topic of selling things. You can also sell others peoples products as an affiliate marketer. This means that you’ll be selling someone else’s products in exchange for a commission. Even huge companies such as Amazon and eBay offer great deals to affiliate marketers. However, it may change and affect your content as you’ll have to review your affiliate products, leave links to them in the description, or even make a ‘how to use’ tutorial, if necessary.
Sponsorship and licensing
Looking for sponsorship with certain companies for advertisements can also be a proactive way to create a new revenue stream. This might be a natural choice or even a planned partnership. You can negotiate directly with a brand, rather than relying on YouTube for your pay cheque.
Alternatively, if you own a brand and want to align it with a different YouTube channel or influencer, you can reach out to them directly and set up a meeting about the potential of a collaboration.
If your video happens to go ‘viral’ you can also licence your content in exchange of money if companies want to use your IP.
And some other ways
There are endless ways to create revenue through YouTube content creation. The only limit is your mind. YouTube itself is constantly thinking and creating new ways for YouTube partners to make money via the platform.
Here are some of their recent suggestions on how to capitalise on monetization:
- Channel Memberships: Your members would make monthly payments for special perks or exclusive content.
- Super Chat and Super Stickers: Your fans can pay you to get their messages highlighted in chat streams.
- YouTube Premium Revenue: Subscribers can pay a fee to get access to premium content, and if you sign up for this program, you'll get a portion of that subscription fee.
All you'll need to succeed is hard work, determination, creativity and a belief in yourself and your product. Just like with any other job out there, you can turn your ideas into money. Why not make your hobby into a dream job. Good luck, YouTubers!
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